Accounting - Foundation Course 2023-24

MBA Batch 2023-25
Foundation Course
Module Name: Accounting Foundation Course
IILM University Gurugram
Introduction and objective
1. Introduction to the Course:

The course intends to provide participants an introductory knowledge of the accounting
language. It focuses mainly on recording business transactions in a way that can be used by
multiple stakeholders of an organization.
The course would be taught with the help of a hypothetical example of a company’s transactions
with individuals and other business enterprises, which would enhance the understanding of how
alternative types of transaction are consolidated into summary financial statements for eventual
analysis and use.
Why accounting for management students?

As a manager you should be able to read the financial statements and then be able to take decisions
in various departments. To read financial statements, one needs to be familiar with accounting
terminology and the effects of various transactions on income and financial position of the
organization. We have put this course comprising of some videos and course material for each
week to introduce you to the concepts of accounting.
Who should do this module?

This module is specifically designed for students from a non-commerce background to bring them
at par with other students, though students who had studied accounts schools &/or in graduation
should also undertake this module for refreshing their concepts and bridging the gaps if any.
At the end of the course, students would have an understanding of:
● Various accounting concepts and conventions.

● Recording & classification of transactions
● Preparation of Trial Balance
2. Introduction to the Tutors
Dr. Ranjani Matta

Dr. Neha Kamboj
3. Module Pre-requisites:
There are no prerequisites for this module and students from diverse educational qualifications are
treated at par with each other.
4. Module Overview:
Session 1 Introduction to Accounting, Concepts & terminologies

Session 2 Principles and Conventions, Accounting Cycle, period
Session 3 Accounting Equation and Journal
Session 4 Journal and Ledger
Session 5 Ledger and Trial Balance
Session 6 Revision
Assessment - Quiz (30 marks)
5. MODULE READINGS
5.1 Main Readings: The course pack contains mostly articles, book readings and videos around
the different concepts of accounting. There are no standard text books recommended for this
course. However, books mentioned in reference section shall be useful.
5.2 References:
Financial Accounting - A Managerial Perspective by R Narayanswamy (latest edition)
Financial Accounting-M. Y khan
5.3Websites:http://www.coursera.org/course/whartonaccounting
Link of this online course will be shared with students and they are expected to finish the course
before the term 1 starts.
6. Session Plan
6.1-Session 1
Introduction to Accounting, Concepts & terminologies
Basics of Accounting, Significance & Role in Business, types of accounting. Different components
of assets and liabilities to be discussed, focusing on nature and classification of assets and
liabilities. This will also include discussion on various expenses and incomes.
Learning Outcome - Understand the role and need for accounting in business decision making
Desired Readings: Financial Accounting: A Managerial Perspective – Narayanswamy.

6.2 Session 2
Principles and Conventions, Accounting Cycle, period
Various principles and conventions will be discussed. The session will also involve the discussion
on accounting cycle, how accounting period is different from financial year.
Learning outcome: Understand the role and need for accounting concepts and their application
in real live situations.
Desired Reading: Financial Accounting - A Managerial Perspective – Narayanswamy.

Financial Accounting for Management – Ramachandran & Kakani.
6.3 – Sessions 3
Accounting Equation and Journal
The significance of accounting cycle in the business and processing of financial transactions by
applying accounting equation will be discussed.
Learning Outcome – The students will be now understanding to record the transactions in the
books of journal.
References: - http://www.businessdictionary.com/definition/accounting-concepts.html
6.4– Session 4
Journal and Ledger
Accounting is a language and like every language it also has its own alphabets. Journal entry is
an entry to the journal. Journal is a record that keeps accounting transactions in chronological
order, i.e., as they occur. Ledger is a record that keeps accounting transactions by accounts.
Learning outcome: Students will be in position to record journal entries and post them to ledger
accounts.
Desired Reading: Financial Accounting - A Managerial Perspective – Narayanswamy.
6.5-6 Session 5-6 Posting of journal entries in the books of ledger will be taught and revised. Trial
Balance will be introduced and its methods of preparation will also be discussed.
Learning Outcome: Students will be in position to prepare ledger accounts individually and learn
different methods of trial balance.
Desired Readings: Financial Accounting - A Managerial Perspective by R Narayanswamy
Financial Accounting by Khan & Jain
7. Assessment: Quiz-30 marks

Accounting assessment will include a quiz (offline) comprising of all sessions 1-6.
5.1 Assessment summary

Assessment Component Due date Weightage- Related Course Related Program
Marks Outcome (CO) Outcome (PO)
Assignment 1 – Quiz at Submission 30 Marks CO1, CO2, CO3, PO1, PO4, and
the end of the course Deadline- to and CO4 PO6
be submitted
in class
5.2 Assessment related details

 Attendance is mandatory in all sessions, specially 7 and 8th.
 If a student is absent on the scheduled date of assessments or submission of assignments, she/he
shall be marked as ‘absent’ and the result will be marked as ‘incomplete’.
5.3 Assessment details:

Assignment 1
A Quiz will be held to assess the learning and understanding of the student.
Submission Deadline- to be submitted in class.
MARKS- 30
5.5 Assessment Feedback

Feedback on student performance from formative and summative assessment tasks will be provided to
students in a timely manner.
6. Student feedback
The Institute places high priority on approaches to learning and teaching that enhances the students’
experience. Feedback is sought from students in a variety of ways including on-going engagement with
faculty, the use of online questionnaires and interaction with the Dean/appropriate authority. This course
is regularly revised and updated to reflect student feedback.
7. Plagiarism
Please refer to the student handbook, page 30, for details.
8.1 Teaching Map:
Module Name: T1 T2 T3 T4 T5 T6
√ √ √
T1: Lectures
T2: Seminars/Tutorials
T3: Projects & Presentation
T4: Case Discussion
T5: Guest Lectures/Industrial Visit
T6: Lab Sessions
9. Student Responsibilities and Conduct

Students are expected to be familiar with and adhere to Institute's policies in relation to class attendance
and general conduct and behaviour, including maintaining a safe, respectful environment; and to
understand their obligations in relation to workload, assessment and keeping informed.
Workload: It is expected that you will spend at least ten to twelve hours per week studying for a course.
This time should be made up of reading, research, working on exercises and problems, online activities
and attending classes. In periods where you need to complete assignments or prepare for examinations,
the workload may be greater. We strongly encourage you to connect with your MS Teams Portal in the
first week of semester.
Attendance: Your regular and punctual attendance at lectures and seminars or in online learning activities
is expected in this course. The Institute reserves the right to refuse final assessment to those students
who fails to attend the required minimum number of classes where attendance and participation is
required as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).
General Conduct and Behaviour: You are expected to conduct yourself with consideration and respect for
the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a
class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave
the class.
Health and Safety: IILM requires each person to work safely and responsibly, in order to avoid personal
injury and to protect the safety of others.
Keeping Informed: You should take note of all announcements made in lectures, tutorials or on the course
web site. From time to time, the Institute will send important announcements to your university e-mail
address without providing you with a paper copy. You will be deemed to have received this information.
It is also your responsibility to keep the Institute informed of all changes to your contact details.

Accounting - Foundation Course 2023-24

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MBA Batch 2023-25

Introduction and objective

1. Introduction to the Course:

Why accounting for management students?

Who should do this module?

● Various accounting concepts and conventions.

Dr. Ranjani Matta

Session 1 Introduction to Accounting, Concepts & terminologies

Desired Readings: Financial Accounting: A Managerial Perspective – Narayanswamy.

Desired Reading: Financial Accounting - A Managerial Perspective – Narayanswamy.

Desired Reading: Financial Accounting - A Managerial Perspective – Narayanswamy.

7. Assessment: Quiz-30 marks

5.1 Assessment summary

5.2 Assessment related details

5.3 Assessment details:

5.5 Assessment Feedback

9. Student Responsibilities and Conduct

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